Archive for home

Okay, so you were young and did not take care of your bills like you should have. Now, you want to buy a house. Do not despair!

You can improve your credit over time. Credit reports and scores generally cover only the previous two year. Major credit issues such as bankruptcy remain on your report for 10 years. Improving your credit involves displaying good credit behavior:

  •  Pay monthly bills: Pay all loans and other monthly bills promptly and in full every month.
  •  Pay off credit cards: Pay off your credit car bills on time and in full every month. Always pay more than the minimum monthly payment on your credit cards.
  • Never max out credit cards: Maxed-out cards send out a “red flag” to creditors. They will question your spending habits.
  • Don’t get more credit cards than you need: Owning several credit cards can suggest that you have cash flow problems, even if no problem exists. 

If you have good credit, apply for a mortgage and then get turned down ask the lender to provide you with a written explanation. The lender must supply one. The explanation will identify the problems with your credit so that you know what needs improvement.

For any questions relating to your financial history, ask your financial adviser.

For any other questions, please do not hesitate to contact us at: or 602.687.9933.

We all want a place to call our own, a place in which we can paint the walls purple if we want, where we can hang pictures where we want. Buying a home is typically more cost effective (in the long run) than renting. In the short term, buying a home is definitely more expensive. I want you to be aware of the significant up-front costs that are involved when you purchase a home.



 Down payment: A one-time cash payment that is typically 5-20% of the purchase price of the home. Buyers who pay less than 20% must usually pay additional Private mortgage insurance, called PMI.

Closing costs: The various fees that lenders charge for processing your loan. These charges are usually    1-5% of the overall purchase price.

Property taxes: State and/or local taxes levied on your home. Property taxes vary widely by jurisdiction. Expect to pay at least 1% of the purchase price of your home per year.

Insurance: The cost of homeowner’s insurance and title insurance.  Homeowner’s insurance covers your new house and its contents. Title insurance covers you if the sale of the home was somehow fraudulent. Insurance costs vary substantially depending on the value of your home and its contents.

Repairs: Costs for any necessary or desired repairs, which vary widely depending on the condition of the home. If you’re interested in a property that needs substantial repairs, make sure to budget for the work.

Moving costs: The more stuff you have and the farther you have to move, the more it will cost.  Interstate moves typically cost $3,000 and up.

You will need savings to cover the up-front costs of buying a home. You will also need a steady income to cover the ongoing expenses, such as repairs and upkeep.  If you do not have both saving and a steady income stream, it is typically better to keep on renting.

Build up your funds by cutting costs and saving money.  Eventually, the time will come when you will be able to buy a home.

For more information call: 602.687.9933  or